Braskem announces 3Q16 Results
São Paulo, Brazil, November 10, 2016 - BRASKEM S.A. (BM&FBOVESPA: BRKM3, BRKM5 and BRKM6; NYSE: BAK; LATIBEX: XBRK) announces today its results for 3Q16.
- Demand for resins (PE, PP and PVC) was 1.3 million tons in 3Q16, growing 8% from 2Q16 and 6% from 3Q15.
- Braskem's crackers in Brazil set a new record for average capacity utilization rate of 96%, increasing 2 p.p from 2Q16 and 4 p.p from the 3Q15.
- To meet the stronger demand in the Brazilian market, Braskem reduced its resin exports by 7% compared to 2Q16 and 3Q15. Exports of basic petrochemicals came to 338 kton, 11% higher than in 2Q16.
- The units in Brazil, including exports, posted EBITDA of R$2,206 million to account for 75% of the Company's consolidated EBITDA.
United States and Europe:
- The PP plants operated at an average capacity utilization rate of 101% in 3Q16, reflecting the good operating efficiency. Production amounted to 512 kton, growing 4% from 3Q15.
- The units in the United States and Europe posted EBITDA of US$161 million (R$524 million) in 3Q16, accounting for 18% of consolidated EBITDA.
- Still in the ramp-up phase, the polyethylene plants operated at an average capacity utilization rate of 63% in 3Q16, increasing 31 p.p. from 2Q16.
- The segment posted EBITDA of US$66 million (R$214 million) to account for 7% of the Company's consolidated EBITDA.
Braskem - Consolidated:
- Braskem's consolidated EBITDA was US$924 million, increasing 8% compared to 2Q16 and 6% compared to 3Q15.
- Corporate leverage, as measured by the ratio of Net Debt to EBITDA in U.S. dollar, stood at 1.63 times, which is the lowest level in 12 years and 20% lower than in 3Q15.
- In September 2016, the Board of Directors of the Company approved the distribution of interim dividends for fiscal year 2015, in the amount of R$ 1 billion, which were paid in October 2016.
To access the full Earnings Release, click here .
Braskem will host conference calls to discuss its results today, November 10, at 12:30 p.m. US ET
Ta access the webcast, click here .